The Personal Identity Management market size is estimated to grow from USD 7.37 Billion in 2016 to USD 12.76 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 11.61%. The report aims at estimating the market size and future growth potential of Personal Identity Management across different segments, such as applications, service, vertical, and regions. The base year for the study is 2015 and the market size is considered to be 2016 to 2021. The objective of the study is to define, describe, and forecast the Personal identity management market on the basis of applications, service types, verticals, and regions. It also analyzes recent developments such as joint ventures, mergers & acquisitions, new product developments, and research & developments in the global market.

The research methodology used to estimate and forecast the market begins with collection and analysis of data on key vendor revenues through secondary research. The vendor offerings have also been taken into consideration to determine the market segmentation. The bottom-up procedure was employed to arrive at the total market size of the global market from the revenue of the key players in the market. After arriving at the overall market size, the total market was split into several segments and subsegments, which were then verified through primary research by conducting extensive interviews with key people, such as CEOs, VPs, Directors, and Executives. These data triangulation and market breakdown procedures were employed to complete the overall market engineering process and to arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary is depicted in the below figure:

MarketsandMarkets forecasts the Personal Identity Management market size to grow from USD 7.37 Billion in 2016 to USD 12.76 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 11.61%. The constant pressure of managing data breaches along with the need to reduce costs has led enterprises of all sizes to adopt Personal Identity Management applications for data management. Also, cloud-based deployment is gaining high traction in the market as it requires less capital investment, helps decrease the operational and maintenance costs, and reduces the management efforts. Cloud Personal Identity Management solutions are available according to customer demand, wherein a customer can start or stop any service, at will. Personal Identity Management applications such as access control and content management are used to manage and secure industries form various cyber threats.

Personal Identity Management solutions combine the capabilities of managing identity content such as usernames, passwords, and other personal information associated with individuals and employees within the enterprises. The content management application is expected to dominate the Personal identity management market, contributing the largest market share during the forecast period. Access control is expected to play a key role in changing the identity management landscape and grow at the highest growth rate during the forecast period as Bring Your Own Device (BYOD) adoption in enterprises will continue to grow.

Cloud deployment is the fastest-growing deployment model in the Personal identity management market as it benefits organizations with increased scalability, speed, 24/7 services, and enhanced management capabilities. Small and Medium Enterprises (SMEs), in particular, have opted for cloud deployment as it can help them avoid costs pertaining to hardware, software, storage, and technical staff.

North America is expected to have the largest market size and would dominate the market during the forecast period. Increasing penetration of the internet and smart & connected devices has led to growing security needs. Also, rapid economic growth in the developing APAC countries along with improving regulatory reforms and economic stability are driving the growth of the Personal identity management market in the region. In Latin America, SMEs as well as enterprises belonging to a range of verticals such as public utilities and many others are expected to increase investments in Personal Identity Management applications.

Lack of trust in IDaaS providers and apprehensions regarding the existing defense mechanisms are few of the important restraints to the growth of the market.

The increasing adoption of cloud and mobile devices is expected to provide great opportunities to the Personal Identity Management solution vendors to grow in the years to come. There are several established players in this market such as IBM Corporation (U.S.), VMware (U.S.), CA Technologies (U.S.), Microsoft (U.S.), Oracle (U.S.), and others. To further strengthen their position in the market, the major vendors have opted to strengthen their product portfolio by launching new products and services in the past five years.

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